Opinion polls cast a shadow on the GBP
YouGov, the key organization tracking the UK public opinion has released its final report ahead of the vote that will take place on Thursday, December 12.
Evergreen buck tacks on with US debt auctions and Fed minutes eyed
On Wednesday, the major American currency jumped because the near-term focus moved to the minutes of the Fed’s last policy gathering for clues on the future tempo of American monetary tightening.
The US dollar index headed north 0.1% hitting 89.805. It gained approximately 1.8% from Friday's three-year minimum of 88.251.
The US currency rallied 0.3% hitting 107.70 yen. Investors told that stop-loss dollar long positions gave an extra lift to the evergreen buck that ascended to 107.90 yen at just one point.
Investors associated the greenback’s bounce for the last few trading sessions with short-covering after a number of speculative trades pushed it down to a 15-month minimum of 105.545 yen the previous week.
The evergreen buck will mostly likely consolidate versus the Japanese yen following its recent selloff.
Some traders were recently purchasing dollar/yen put options for the purpose of positioning for dollar weakness, while the market in general happens to be well covered versus downside risks in the evergreen buck.
The Japanese yen demonstrated rather a muted reaction to remarks from Japan's top currency diplomat, Masatsugu Asakawa who was previously quoted as telling that Japanese yen's recent moves happened to be "one-sided".
The evergreen buck has slumped versus the Japanese yen as well as other key currencies for recent months, with the upbeat impetus from ascending American interest rates recouped by quite bearish factors, such as concerns that America could stick with a weaker US dollar policy.
Strengthening worries as for the American budget deficit that some analysts tell could inch up to more than $1 trillion already in 2019, mostly due to enormous government spending and also large corporate tax trims, have affected the greenback as well.
The common currency was intact at $1.2332, having rebounded from a three-year peak of $1.2556 demonstrated on Friday.
Similar
Currency market on December 9
The main attention of traders is paid to the news concerning the US-China developments ahead of the US tariffs deadline scheduled on December 15.
Currency market on December 6: the NFP Friday
Black Friday for the currency market: the Non-Farm Payrolls are out!
Latest news
Important events this week will bring us
This week is expected to be quiet, however so,e of the events still may have an effect on the Forex market.
Victorious Boris Johnson
Boris Johnson have won the UK Parliament elections. What does that mean for the Forex market? The article takes the first look at the answers.
Trump boosts the market optimism
There is positive news concerning the US-China trade deal. We've prepared an overview of the current state of the situation.
Deposit with your local payment systems
